Angelini Ventures and EIB launch €150m joint initiative to boost European health innovation

Angelini Ventures and the European Investment Bank (EIB) have unveiled a €150 million co-investment programme to support emerging biotechnology, medical technology, and digital health start-ups across Europe. Announced at a press conference in Rome, the partnership marks the EIB’s first collaboration with a corporate venture capital firm in the health sector under its TechEU programme.

Strengthening Europe’s innovation pipeline

The €150m commitment will be deployed over the next six years through seven to ten funding rounds, beginning with an investment in the second financing round of French ADC specialist Adcytherix SAS.

This initiative forms part of TechEU, the EIB Group’s broader strategy to reinforce Europe’s innovation capacity and technological competitiveness. Between 2025 and 2027, the EIB Group plans to invest €70bn across equity, quasi-equity, loans, and guarantees—aiming to mobilise €250bn in total.

Founded in 2022 and backed by €300m from Angelini Industries, Angelini Ventures has already channelled €125m into 22 start-ups, further consolidating its position in European life sciences and digital health.

Addressing Europe’s start-up financing gaps

The new partnership comes amid growing concerns over Europe’s ability to nurture and retain high-growth companies. The European Commission’s start-up and scale-up strategy identifies persistent barriers in moving from research to market and scaling from start-up to established business. The European Spin-outs Report 2025 points to major gaps in proof-of-concept financing and late-stage rounds above €100m, contributing to the migration of promising companies abroad.

Nearly 30% of European unicorns relocated outside the EU between 2008 and 2021, and 64% of exits now occur in the US. The contrast in funding is also stark: in 2024, the US registered around 15,000 rounds worth €210bn, while Europe reported 10,000 rounds totalling €57bn.

Italy’s momentum in venture capital

Italy, home to Angelini Ventures, has shown strong growth. Venture investments reached €1.5bn across 417 rounds in 2024, a 31% year-on-year increase. Life sciences alone drew €300m across 62 rounds, including Angelini Ventures’ co-led €12m investment in Serenis. The country also saw one of its largest recent deals with NanoPhoria Bioscience raising €83m in a Series A round.

As Europe seeks to retain more of its innovation value and build a stronger IPO market, the EIB–Angelini partnership is positioned to play a key role in enabling promising health-tech companies to scale within the region.

Source:

European Spin-outs Report 2025

European Investment Bank

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